- - - Retained earnings 24,675 8.7% 30,103 11% 2027 9,000 - - - Others 25,752 9.1% 25,965 9.2% Total Equity 50,427 18% 56,069 20% Credit Rating Fitch National rating: AA+ (THA), Outlook: Stable S&P BBB+, Outlook

Fitch National rating: AA+ (THA), Outlook: Stable S&P BBB+, Outlook: Stable Source and Use of Fund: 1H20 (Bt.mn) Source of fund Use of fund Operating cash flow 43,114 CAPEX & Fixed assets 12,661 Sale of

declined the second quarter in consecutive reflecting the economic slowdown in the trading partner countries. Although, Thailand’s economic outlook in 2023 is expected to expand between 2.7-3.7% mainly due

the financial risk perspective, despite the higher debt ratio stemming from increased loans and lower shareholder equity, the ratio was nonetheless at relatively low level. The interest coverage ratio

. However, Return on Equity slightly declined from 14% to 13.7% due to lower debt and more reliance on internal operating fund. From the financial risk perspective, debt to equity ratio decreased from 0.5x to

’ equity as mentioned above. For the financial risk perspective, despite the higher debt ratio comparing to previous year, the ratio was nonetheless at relatively low level. Interest coverage ratio (EBITDA

addition, the significant improvement of return on equity was from the decrease of shareholders’ equity as mentioned above. For the financial risk perspective, despite the higher debt ratio comparing to

strong network quality. The full-year guidance and outlook for 2018 was maintained as presented on page 6. Significant Events 1. AIS, via AWN, currently holds 81.47% of total CSL’s outstanding share and is

Management Outlook and Strategy May 15, 2017 PACE Development Corporation PLC. CRC Tower All Seasons Place 45th Floor, Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Telephone 02-6543344 Ext.119 http

Management Outlook and Strategy February 9, 2018 PACE Development Corporation PLC. CRC Tower All Seasons Place 45th Floor, Wireless Road, Lumpini, Pathumwan, Bangkok 10330 Telephone 02-6543344 Ext.119 http